Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value of Each Option Grant Estimated

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year:



	Years Ended December 31,
	2016	2015	2014
Expected option life (in years)	4.70 - 6.00	4.80 - 5.50	5.50 - 6.00
Risk-free interest rate	1.27 - 1.35%	1.49 - 1.73%	1.61 - 2.73%
Expected volatility	39.58 - 55.58%	36.29 - 53.83%	36.74 - 40.50%
Dividend yield	—%	—%	—%

Summary of Company's Restricted Stock Activity

A summary of HC2’s restricted stock activity is as follows:



	Shares		Weighted Average Grant Date Fair Value
Unvested—January 1, 2015	338,702		$	4.26
Granted	1,539,114		$	9.14
Vested	(1,087,128	)	$	8.35
Forfeited	—		$	—
Unvested—December 31, 2015	790,688		$	8.14
Granted	301,040		$	3.89
Vested	(959,196	)	$	7.17
Forfeited	(16,611	)	$	5.03
Unvested—December 31, 2016	115,921		$	5.59

Summary of Company's Stock Option Activity

A summary of HC2’s stock option activity is as follows:



	Shares		Weighted Average Exercise Price
Outstanding—January 1, 2015	3,573,141		$	4.27
Granted	2,552,673		$	6.74
Exercised	—		$	—
Forfeited	(764,529	)	$	4.05
Outstanding—December 31, 2015	5,361,285		$	5.48
Granted	1,506,848		$	10.49
Exercised	(2,000	)	$	4.06
Forfeited	(2,800	)	$	4.06
Expired	(34,236	)	$	6.68
Outstanding—December 31, 2016	6,829,097		$	6.58

Eligible for exercise	4,885,967		$	5.31